Chardan Advises NovellusDX in Cross-Border Biotech Merger
CANCER GENETICS (CGIX)
Last cancer genetics earnings: 11/19 04:16 pm
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US:NASDAQ Investor Relations:
ir.cancergenetics.com
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Source: PR Newswire
NEW YORK, Sept. 18, 2018 /PRNewswire/ -- Chardan, a global investment bank, announced today that the firm acted as exclusive financial advisor to NovellusDX, Ltd., a leader in functional genomics, for the firm's agreement to merge with a newly formed Israeli subsidiary of Cancer Genetics, Inc. (NASDAQ: CGIX).Shareholders of NovellusDx will receive stock equal to approximately 49% of the equity of Cancer Genetics on a fully diluted basis (with certain adjustments). Cancer Genetics will be the surviving entity and expects to remain listed on the Nasdaq Stock Market.This transaction will combine Cancer Genetics' scale, expansive test portfolio and broad data set related to tumor biology, cultivated over more than a decade, with NovellusDx's proprietary technology and machine learning capabilities to form a leading, oncology-focused precision medicine company. The aim of the combined Company is to accelerate and enhance therapeutic development, effectively matching patients to targeted th
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